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Loose Diamond Question

je355804

Rough_Rock
Joined
Oct 22, 2011
Messages
9
First of all I'd really like to thank all the people that helped me yesterday! This is hands down the most useful forum I've ever in my life found!

I now have a few more questions! I want to make sure I get this right, so I'm doing as much research as I possibly can.

If I were to go with a loose diamond given to me from a family member where should I go to get it put in a ring-setting? I'm also curious as to how this "GIA" works?

Is this for tracking purposes or something? When I take it to get the diamond set do they run the GIA number through a database or something? I'm just not sure I get the difference between a GIA diamond and a non-GIA diamond. I've been advised to stay away from non-GIA diamonds... Could anyone elaborate on this at all?

EDIT: Ok two more quick questions... If it's GIA certified does that mean it has it's own laser inscriptions? Also does this mean it has been appraised?
 

slg47

Ideal_Rock
Joined
Apr 4, 2010
Messages
9,667
je355804|1319425477|3046320 said:
So a GIA stone is "certified" not "appraised"?
yes, GIA is a lab that grades diamonds. we recommend buying a diamond with a lab report from a reputable lab (GIA or AGS) because that way you can ensure reliability of grading...that way you know what you are getting.

an appraisal is useful for insurance purposes...an appraiser can determine a value for insurance.
 

je355804

Rough_Rock
Joined
Oct 22, 2011
Messages
9
I am interested in perhaps having a diamond put in a new setting.

Will I need insurance and an appraisal and all of this before they'll be willing to set the diamond?
 

Gypsy

Super_Ideal_Rock
Joined
Aug 8, 2005
Messages
40,198
An appraisal will give you value based on information and a certification gives you the information an appraisal is based on.

A GIA certificate is a document. Not a tracking system in anyway.

A GIA appraisal is a misnomer. GIA doesn't appraise. An appraiser (a person) can have GIA credentials, but that's their education. They are not a representative of GIA anymore than a random graduate of Harvard represents the school.

A GIA certificate does have a number. And that number can be inscribed by a laser onto a diamond. But that can be removed by the right equipment. It's kind of a tracking number, but not a fool proof one. And the GIA does not keep track of who owns what diamonds with what certificate number. No one does that.

You insurance company will note your GIA number. But again, it's only information.
 

slg47

Ideal_Rock
Joined
Apr 4, 2010
Messages
9,667
je355804|1319426105|3046330 said:
I am interested in perhaps having a diamond put in a new setting.

Will I need insurance and an appraisal and all of this before they'll be willing to set the diamond?
I would want insurance so that you are covered if any damage occurs during setting. Do you already own the diamond? Where are you looking to get the setting? you should ask the vendor what their policies are
 

Gypsy

Super_Ideal_Rock
Joined
Aug 8, 2005
Messages
40,198
je355804|1319426105|3046330 said:
I am interested in perhaps having a diamond put in a new setting.

Will I need insurance and an appraisal and all of this before they'll be willing to set the diamond?

No. Individual jewelers will have different policies related to that.

There are jewelers that require certification for outside stones. And others that will set anything.

HOWEVER, the jeweler will NOT insure YOUR STONE during setting and if there is a loss (and that is a possibility during the setting process) you will not be able to recover anything.

So you need insurance yourself.

And in order to insure it you need an appraisal so the insurance company knows what you own, and how much it is worth, so that if there is a loss they know what you are owed.

There are a few jewelers that will insure your stone during setting. But they will only replace what THEY say you have. Unless you have an independent appraisal, they can claim anything. So you need on in this instance too. Also most jewelers that do insure you while you set will require either certification or appraisal.
 

FrekeChild

Super_Ideal_Rock
Joined
Dec 14, 2007
Messages
19,456
je355804|1319422790|3046285 said:
First of all I'd really like to thank all the people that helped me yesterday! This is hands down the most useful forum I've ever in my life found!

I now have a few more questions! I want to make sure I get this right, so I'm doing as much research as I possibly can.

If I were to go with a loose diamond given to me from a family member where should I go to get it put in a ring-setting? I'm also curious as to how this "GIA" works?

Is this for tracking purposes or something? When I take it to get the diamond set do they run the GIA number through a database or something? I'm just not sure I get the difference between a GIA diamond and a non-GIA diamond. I've been advised to stay away from non-GIA diamonds... Could anyone elaborate on this at all?

EDIT: Ok two more quick questions... If it's GIA certified does that mean it has it's own laser inscriptions? Also does this mean it has been appraised?
You could go to any multitude of places, just about any jeweler will put a stone in a setting.

GIA is a grading laboratory. They look at your diamond, compare it to others and give you a map of your diamond, so you know how it compares to other diamonds. An appraisal can use this to help determine and assign a replacement value to your diamond/ring.

Lab = grading
Appraisal = value assigned

The two are very different things.

A GIA number is for identifying a diamond. If it has a GIA number, it's like the diamond's finger print--it's the only diamond with that number. There is no tracking involved.

GIA is the most well respected diamond grading laboratory. They are the people with the highest standards and the most consistent standards.
 

je355804

Rough_Rock
Joined
Oct 22, 2011
Messages
9
Gypsy|1319426465|3046336 said:
je355804|1319426105|3046330 said:
I am interested in perhaps having a diamond put in a new setting.

Will I need insurance and an appraisal and all of this before they'll be willing to set the diamond?

No. Individual jewelers will have different policies related to that.

There are jewelers that require certification for outside stones. And others that will set anything.

HOWEVER, the jeweler will NOT insure YOUR STONE during setting and if there is a loss (and that is a possibility during the setting process) you will not be able to recover anything.

So you need insurance yourself.

And in order to insure it you need an appraisal so the insurance company knows what you own, and how much it is worth, so that if there is a loss they know what you are owed.

There are a few jewelers that will insure your stone during setting. But they will only replace what THEY say you have. Unless you have an independent appraisal, they can claim anything. So you need on in this instance too. Also most jewelers that do insure you while you set will require either certification or appraisal.

Hmmm this is something to certainly consider then. I don't think I can afford insurance for the time being, and if I'm unable to find somewhere that will do it uninsured then this option to use a stone from another ring may be out!

Thank you very much for all the help!
 

Gypsy

Super_Ideal_Rock
Joined
Aug 8, 2005
Messages
40,198
An appraisal is about 80-100 bucks. Insurance is like 60 bucks for a year. It's not high at all.

Jewelersmutual.com
 

FrekeChild

Super_Ideal_Rock
Joined
Dec 14, 2007
Messages
19,456
Just curious, what is your budget?
 

Rhino

Ideal_Rock
Trade
Joined
Mar 28, 2001
Messages
6,275
je355804|1319425477|3046320 said:
So a GIA stone is "certified" not "appraised"?
Excellent advice given so far.

Just a note. While the word "certify" and "certificate" are thrown around loosely the fact is that GIA doesn't certify anything really. Even when I had initially published our website I forgot about this and there were a few places I used these words and I got a phone call from GIA asking to correct it. :wink2: They will issue a "Report" stating their opinion, and as you see that opinion is esteemed within the industry and among consumers but they do not "certify" diamonds. I haven't been following your threads but if you are looking to have a diamond graded by GIA & Appraised there are jewelers who can provide both of these services for you.

Regards,
Rhino
 

diamondseeker2006

Super_Ideal_Rock
Premium
Joined
Jan 11, 2006
Messages
56,133
Do you have any idea of the size of the stone? You most certainly can use the diamond from another ring. It would not need to be GIA certified. I recently had a family diamond recut and reset and I did not care about the certification at all because all I needed was a jewelers insurance valuation/appraisal to add it on to our insurance.

You will just choose a nice local jeweler, preferably a reputable independent one as opposed to a chain, to set your diamond. You'll know that there is a small risk of damage during setting, but the jeweler should examine the stone to see if it has inclusions that would make it dangerous to set and let you know before proceeding. If not, you ask. This is a time to spend a little extra and go to a fine jeweler rather than one that is more into quantity than quality.
 

Gypsy

Super_Ideal_Rock
Joined
Aug 8, 2005
Messages
40,198
If you do go to a jeweler, as DS said, go to a VERY good one (and that doesn't always mean the most expensive) but also make sure they do the work in house. If you have an uninsured stone-- you definitely want one throat to choke in case something goes wrong. The last thing you want is for the jeweler to blame their repair bench as some other place and then you are stuck with them pointing fingers at one another!
 
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